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Will I Have to Pay Money Back to the Bank After the House Is Sold?

This is known as a deficiency judgement, and in a successful short sale transaction there is no deficiency judgement. What we do is we get the bank to agree to accept a smaller amount than they’re owed in order to allow the home to close, and also agree that the homeowner doesn’t have any obligation after the closing to pay back the difference, or the so-called deficiency.